Traders Thomas Kay, left, and Steven Kaplan work on the floor of the New York Stock Exchange, Monday, April 9, 2012. (AP Photo/Richard Drew)

NEW YORK (AP) — Stocks pulled back sharply as Wall Street got its first chance to react to a slowdown in hiring in the United States in March.

The Dow Jones industrial average dropped 134 points to 12,927 as of 10:50 a.m. The Standard & Poor’s 500 index was off 16 at 1,382, and the Nasdaq composite lost 29 points to 3,051.

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